Branding is a word that is widely used but often misunderstood. As the meaning has been construed, it is easy to see why many companies, especially SMEs with little time or budget, can often overlook the time and energy that is required when creating a brand for a business. As such, they are also losing out on the great opportunities that solid branding can bring to an organisation.
A brand is both the physicality of your company, with the logo, name and other graphical elements as well as being a carefully constructed series of messages which help prospective customers form an opinion and emotion towards your organisation, once your name is heard. A brand then, is a key part of your business success.
Here are some reasons why it is important to invest time and money into creating clear and cohesive branding to help your company achieve its corporate goals:
Share your corporate personality
The wider aspects of your branding ranging from your colours used, the imagery in your logo, the language used by your staff and even your phone holding tone all add up to create a personality for your company. Taking into account each of these elements, it is possible to show the world the ethos, ideals and goals of a company, of which customers can then relate to and as such, form a bond with.
Become a trusted name rather than an unknown entity
When you are purchasing a product, whether it be something from the grocery store or your next piece of high-end technology, how often would you choose to buy from the brand you recognise rather than one you have never seen before? This phycology applies amongst all industries and areas of a business. By creating a brand that is instantly recognisable, people are more likely to trust you and do business with you (If your carefully constructed brand ethos aligns with theirs!)
Set yourself apart from your competition
In today’s global market, it will be rare to run a business which provides a 100% unique offering to your customers and you are likely to come across a high level of competition. A brand can help you to clearly define yourself and let your clients know what you do differently and what you do better than those other companies aiming to steal your sales.
Create a strong, focussed and motivated workforce
As you work hard to create a brand for your company, you too are creating a set of core values and a company culture that can be drawn upon by your staff. Having a clear goal and direction will help your workforce to stay on track and to be successful and productive. Making this easier for them with clear direction will in turn help to keep them motivated.